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Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
 China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, helping the industry’s benchmark, the Baltic Dry Index (BDI) sustain a rally during the past week. Yesterday, the BDI reached new highs at 3,888 points, up by 66, with the Capesize segment once again leading the pack. The BCI (Baltic Capesize Index) is now at 4,878, while the Panamax market also gained to reached 4,196 points.
Commenting on the capesize market, Fearnley’s latest weekly report said that it was an interesting week, with firming rates all over. “The Pacific market remains strong with a current Australia - China market in the high USD 13s. For fronthaul, rates improved to mid 30s earlier this week. These relatively strong numbers are well supported by an active short period market improving from mid 30,000s to close to mid 40,000s in one week.
The main drivers this time is as always the FFA market, along with more coal cargoes from the Atlantic to the Far East. Similarly, “the Panamax market left last week on a positive note with high activity week on week. The trend continued into this week with firming rates, giving support to the period market. It was concluded several short period fixtures and mid week it is rumored a few 10/12 months deals being concluded in the Atlantic at levels ard usd 32,500 and 28k in the Pacific. Pac rounds are fixed at usd 34k and ows asking 35k for same. Atl rounds getting high 30´s and fronthauls in the mid 40´s range. In Feb, India exported more iron ore to China than Brazil did. Monsoon season is kicking in there now so this will be limited until September” said Fearnley’s.
In the smaller ship types, the Atlantic markets remain firm, but more enquiries are expected for the dates nearer to the end of May and early June. “Supramax vessels open in USG are now achieving low 50´s to the Med and mid/high 50´s to the Far East. Handymax tonnage ex Bsea achieving high 30´s fronthaul, supras high 40´s. The immediate outlook is for flat/stable conditions.
In the FEast, despite the holidays, the market remained firm with an upward sentiment. For NoPac rounds ex N.China expect mid/high 20´s, and a tick less for Indo/India and Indo/China coal trips. Activity on WCI is slowing with the Monsoon fast approaching, WCI to China mid/high 30´s and low 30´s for trips via R.Bay.
The period market was still firm, for short period Supras trading high 20´s” said the shipbroker.
Meanwhile, as it was reported this week, China, the world's biggest buyer of iron ore, imported 55.33 million metric tons in April this year, 6.2% less than the 59 million it imported in March, according to the country's General Administration of Customs. But, in the first four months of this year, China's iron ore imports rose 11.6% year on year to 210.3 million metric tons, said customs. In 2009, China discovered 3.52 billion metric tons of proven iron ore reserves, said the Ministry of Land and Resources. Iron ore imports soared 42% to a record 628 million metric tons last year, according to an earlier report from China Knowledge.
Last month, steel product exports were 4.31 million metric tons. During the period from January to April, China's steel product exports soared 99% year on year to 13.02 million metric tons.
Dry bulk ship owners had positive trends in other sectors as well, primarily the global grain trade, which, according to Commodore’s Research analyst, Andrew Winkler, it is expected to remain firm, “although a current surge from South America will likely recede in a few weeks as the peak South American grain season comes to an end. Overall levels of grain trade will remain moderate, however, and an additional surge is expected towards the end of the third quarter - when peak Australian grain season commences. In between these two peak seasons, a moderate amount of grain will still find its way on to dry bulk vessels.
Next year, overall grain trade is expected to increase further” said Winkler.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Sojitz Corporation - Japan
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- White Energy Company Limited
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- Merrill Lynch Commodities Europe
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- Australian Coal Association
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- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
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- Makarim & Taira - Indonesia
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- Bulk Trading Sa - Switzerland
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- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- The University of Queensland
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- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
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- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indonesian Coal Mining Association
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- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
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- Tata Chemicals Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
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- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
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- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
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- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
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- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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